iPierian, Inc., a South San Francisco, CA-based biopharmaceutical company using patient-derived induced pluripotent stem cells (iPSCs) for drug discovery, held the second closing of its Series B equity financing, bringing the total amount raised in this round to $28m.
Investors in this closing include SR One, the independent corporate healthcare venture capital arm of GlaxoSmithKline, Biogen Idec New Ventures and additional undisclosed partners.
They joined the existing investor syndicate of Kleiner Perkins Caufield and Byers, Highland Capital Partners, MPM Capital, Google Ventures, FinTech Global Capital, Mitsubishi UFJ Capital and ATEL Ventures, who all previously participated in this round.
In conjunction with the closing, Rajeev Dadoo, Ph.D., a partner at SR One, will participate as an observer on iPierian’s board of directors.
The company focuses on the industrialization of induced pluripotent stem cell (iPSC) technology and directed differentiation of patient cells for the discovery and development of new therapeutics.
The initial focus is neurodegenerative diseases, including spinal muscular atrophy (SMA), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease, in addition to a broad therapeutic area program intended for partnering in metabolic disease.